Obama's Real Unemployment Rate Is In Double Digits
...But the government also releases what it calls the U6 measure — one that takes into account discouraged workers and those who, as the Labor Department puts it, are "marginally attached" to the labor force.

What does U6 show? It shows an alarming 15% unemployment rate — with 23 million people having no job. Worse, the U6 measure of unemployment is rising as the economy slows down.

We've concocted our own separate measure of unemployment, as you can see in the chart below.

As we noted, there's been a decline in labor force participation under President Obama — a decline that isn't adequately accounted for in the official data.

What would happen if the labor participation rate remained at 65.7% — its level when Obama entered office — instead of the 64.3% currently?

It may sound like a small difference, but just this tiny change pushes the real unemployment rate under Obama to 11% — not 8.3%....